First Trust MLP and Energy Income Fund Declares its Monthly Common
Share Distribution of $0.1183 Per Share for March

February 22, 2016 04:25 PM Eastern Standard Time

WHEATON, Ill.--(BUSINESS WIRE)--First Trust MLP and Energy Income Fund (the “Fund”) (NYSE: FEI) has
declared the Fund’s regularly scheduled monthly common share
distribution in the amount of $0.1183 per share payable on March 15,
2016, to shareholders of record as of March 3, 2016. The ex-dividend
date is expected to be March 1, 2016. The monthly distribution
information for the Fund appears below.

First Trust MLP and Energy Income Fund (FEI):

Distribution per share:

$0.1183

Distribution rate based on the February 19, 2016 NAV of $12.54:

11.32%

Distribution rate based on the February 19, 2016 closing market
price of $11.31:

12.55%

It is anticipated that, due to the tax treatment of cash distributions
made by master limited partnerships (“MLPs”) in which the Fund invests,
a portion of the distributions the Fund makes to Common Shareholders may
consist of a tax-deferred return of capital. The final determination of
the source and tax status of all distributions paid in 2016 will be made
after the end of 2016.

The Fund is a non-diversified, closed-end management investment company
that seeks to provide a high level of total return with an emphasis on
current distributions paid to common shareholders. The Fund seeks to
provide its common shareholders with a vehicle to invest in a portfolio
of cash-generating securities, with a focus on investing in publicly
traded MLPs and MLP-related entities in the energy sector and energy
utilities industries. Under normal market conditions, the Fund invests
at least 85% of its Managed Assets in equity and debt securities of
MLPs, MLP-related entities and other energy sector and energy utilities
companies. To generate additional income, the Fund expects to write (or
sell) covered call options.

First Trust Advisors L.P., the Fund’s investment advisor, along with its
affiliate, First Trust Portfolios L.P., are privately-held companies
which provide a variety of investment services, including asset
management and financial advisory services, with collective assets under
management or supervision of approximately $93 billion as of January 31,
2016 through unit investment trusts, exchange-traded funds, closed-end
funds, mutual funds and separate managed accounts.

Energy Income Partners, LLC (“EIP”) serves as the Fund’s investment
sub-advisor and provides advisory services to a number of investment
companies and partnerships for the purpose of investing in MLPs and
other energy infrastructure securities. EIP is one of the early
investment advisors specializing in this area. As of January 31, 2016,
EIP managed or supervised approximately $4 billion in client assets.

Past performance is no assurance of future results. Investment return
and market value of an investment in the Fund will fluctuate. Shares,
when sold, may be worth more or less than their original cost.